The 2020-21 Budget: Initial Comments on the Governor’s May Revision

May 17, 2020 - The Governor proposes converting this and other projects to LRB financing. Under this proposal, the state would borrow from the bond market to pay the upfront costs of these projects and then repay those bonds with i nterest over time.
https://lao.ca.gov/Publications/Report/4232

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - The spending plan converts $ 694  m illion from the SPIF and some other smaller projects to LRB financing. As a result, the state will borrow from the bond market to pay the upfront costs of these projects and then repay those bonds with interest over time.
https://lao.ca.gov/Publications/Report/4263